Vanderbilt University is ranked the best value college in Tennessee for the third year in a row while the University of Tennessee Knoxville ranked fourth, according to a new study.
The study, conducted by financial technology company SmartAsset, looked at scholarships provided, starting salary for graduating students, tuition, living costs, and retention rate as factors in determining the best value.
Tennessee Technological University was ranked second and Christian Brothers University is the third best value in Tennessee, according to the study. Other colleges and universities in the top 10 for the state, in order, were:
- University of Memphis;
- Trevecca Nazarene University;
- Tennessee State University;
- The University of Tennessee -Martin;
- Carson-Newman University;
- Middle Tennessee State University
The average amount of scholarships and grants awarded to students at Vanderbilt is $39,383, according to the study. Vanderbilt tuition is $42,978 and living costs are $18,134. The average starting salary for graduating students is $57,900. Student retention rate is 97 percent.
At UT-Knoxville, the average amount of scholarships and grants awarded to students is $9,460. Tuition for in-state students is $11,876; student living costs are $16,302 and the average starting salary is $46,500. The student retention rate is 85 percent, according to the study.
The best value college nationally is Massachusetts Institute of Technology in Cambridge, Mass., according to the study. Rounding out the top five nationally, in order, were Harvey Mudd College in Claremont, Calif.; Stanford University in Stanford, Calif.; Georgia Institute of Technology main campus in Atlanta; and the State University of New York Maritime College in Throggs Neck, N.Y.
SmartAsset is a financial technology company that uses data to provide free, actionable advice on big financial decisions. Other topics the company addresses include home buying, renting, retirement, life insurance, taxes, student loans and investing.